SandhillMedical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow.

SandhillMedical

Comparative Balance Sheet

As of December 3120202019AssetsCurrent assetsCash$376,000$417,500Accounts receivable, net1,055,000776,400Inventory731,000681,050Other current assets381,400247,050Total current assets2,543,4002,122,000Property, plant, & equipment, net8,720,4258,439,980Total assets$11,263,825$10,561,980Liabilities and Stockholders' EquityCurrent liabilities$3,203,000$2,846,100Long-term debt3,702,7003,892,700Total liabilities6,905,7006,738,800Preferred stock, $5 par value58,90058,900Common stock, $0.25 par value104,600103,800Retained earnings4,194,6253,660,480Total stockholders' equity4,358,1253,823,180Total liabilities and stockholders' equity$11,263,825$10,561,980

SandhillMedical

Comparative Income Statement and Statement of Retained Earnings

For the Year20202019Sales revenue (all on account)$10,177,200$9,613,900Cost of goods sold5,612,2005,298,750Gross profit4,565,0004,315,150Operating expenses2,840,2502,634,150Net operating income1,724,7501,681,000Interest expense300,400308,600Net income before taxes1,424,3501,372,400Income taxes (30%)427,305411,720Net income$997,045$960,680Dividends paidPreferred dividends29,50029,550Common dividends433,400413,050Total dividends paid462,900442,600Net income retained534,145518,080Retained earnings, beginning of year3,660,4803,142,400Retained earnings, end of year$4,194,625$3,660,480

(a-d)

Calculate the following liquidity ratios for 2020.(If working capital is negative then enter with a negative sign preceding the number or parentheses, e.g. -15,000 or (15,000). Round all answers except working capital to 2 decimal places, e.g. 2.55.)

a.Working capital$b.Current ratioc.Acid-test ratiod.Accounts receivable turnovertimes